Cabinet approves reforms in the telecom sector, spells joy for distressed operators

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In future Auctions, tenure of spectrum increased from 20 to 30 years. Surrender of spectrum will be permitted after 10 years for spectrum acquired in the future auctions.

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Addressing a press briefing, Union telecom minister Ashwini Vaishnaw said, “In the telecom sector, there was a 100% FDI but only 49% of it was in the automatic route. Today, the cabinet has decided that 100% FDI in telecom via the automatic route has been allowed. All safeguards including press note 3 and others will be applicable.”

The Union Cabinet on Wednesday allowed 100% foreign direct investment (FDI) in the country’s telecom sector via the automatic route, adding all safeguards will apply. Till now, only 49% of FDI was allowed through the automatic route and anything beyond this had to necessarily go through the government route.


 
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